Global Medical REIT Inc. $GMRE Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its stake in Global Medical REIT Inc. (NYSE:GMRE) by 75.4% in the third quarter, Holdings Channel.com reports. The firm owned 12,868 shares of the company’s stock after selling 39,381 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Global Medical REIT were worth $434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp purchased a new position in Global Medical REIT during the third quarter worth approximately $35,000. New York State Teachers Retirement System acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $39,000. Tower Research Capital LLC TRC grew its stake in shares of Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after buying an additional 3,046 shares during the period. Samalin Investment Counsel LLC purchased a new stake in shares of Global Medical REIT during the 3rd quarter valued at $273,000. Finally, Greenland Capital Management LP acquired a new stake in shares of Global Medical REIT during the 3rd quarter worth $285,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

Global Medical REIT Stock Down 0.1%

GMRE opened at $35.96 on Thursday. The firm has a 50 day moving average price of $35.62 and a 200 day moving average price of $34.48. The company has a market cap of $482.22 million, a PE ratio of -143.84 and a beta of 1.18. Global Medical REIT Inc. has a 1 year low of $29.05 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.